Global Driving Simulator Market Share, Size, Growth, Trends, Report and Forecast Period Of 2022-2027
The new report by Expert Market Research titled, ‘Global Driving Simulator Market Size, Share, Trends, Scope, Price, Report and Forecast 2022-2027’, gives an in-depth analysis of the global driving simulator market, assessing the market based on its segments like vehicle type, simulator type, application, end use and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
Historical Market Size (2020): USD 1.7 Billion
Forecast CAGR (2022-2027): 8.0%
Forecast Market Size (2026): USD 2.7 Billion
Driving simulators, through the virtual environment, help in training a driver to be skilled in handling the vehicle to safety in different conditions. It helps to teach how to avoid collision from all angles. This cannot be practised in an actual scenario.
Therefore, the need for driving simulators is popular. Additionally, the demand for driving simulator is propelled by the growing search for skilled drivers to ensure safety as the incidence of road accidents caused by human errors rise. Benefits of investment and introduction of more advanced technologies is also expected to aid the driving simulator market in the forecast period.
Industry Definition and Major Segments
Driving simulator refers to a device that creates a virtual environment with the help of artificial intelligence for the purpose of driver’s education. These also have sensors to track the response time, efficiency in vulnerable circumstances, and attention of the rider. Mostly, these simulators consist of physical mock-ups like steering wheel, gearshift, and pedals, allowing the user to feel a life-like experience of driving.
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On the basis of vehicle type, the market is segmented into:
- Passenger Vehicle
- Commercial Vehicle
Based on simulator type, the market is divided into:
- Compact Simulator
- Full-Scale Simulator
- Advanced Simulator
The market is divided into the following, based on application:
- Motor Sports and Gaming
- Research and Testing
The end use segments encompass:
The major regional markets include:
- North America
- Latin America
- Middle East and Africa
Asia pacific has been witnessing a growing trajectory in terms of automotive manufacturing and sale owing to factors like improving lifestyle, increasing number of metro cities, growing population, among others. This has led to rising demand for driving simulator. Furthermore, strict vehicle and road safety laws are projected to be implemented in countries including China, Japan, India, and South Korea, which is anticipated to boost the market in the forecast period in these regions.
Other than civilians, police, firemen, ambulance drivers and military troops are also benefitted with the use of driving simulators. Made from modern technology like 3D visualisation, it helps these professionals to improve on their response skills during emergencies. Growing adoption of driving simulators for the same is also observed to positively catalyse the market.
Key Market Players
The major players in the market are Thales Group, Moog Inc., AVSimulation, Ansible Motion Limited, L3Harris Technologies, Inc., CAE Inc., and Boeing, among others.
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